Correlation Between Tidal Trust and Doubleline Multi

Can any of the company-specific risk be diversified away by investing in both Tidal Trust and Doubleline Multi at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Tidal Trust and Doubleline Multi into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Tidal Trust II and Doubleline Multi Asset Growth, you can compare the effects of market volatilities on Tidal Trust and Doubleline Multi and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Tidal Trust with a short position of Doubleline Multi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tidal Trust and Doubleline Multi.

Diversification Opportunities for Tidal Trust and Doubleline Multi

0.0

Correlation Coefficient

Tidal Trust  Doubleline Multi

Pay attention - limited upside

The 3 months correlation between Tidal and Doubleline is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Tidal Trust II and Doubleline Multi Asset Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Doubleline Multi Asset and Tidal Trust is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Tidal Trust II are associated (or correlated) with Doubleline Multi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Doubleline Multi Asset has no effect on the direction of Tidal Trust i.e., Tidal Trust and Doubleline Multi go up and down completely randomly.

Pair Corralation between Tidal Trust and Doubleline Multi

If you would invest  495.00  in Tidal Trust II on May 2, 2025 and sell it today you would earn a total of  127.00  from holding Tidal Trust II or generate 25.66% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

Tidal Trust II  vs.  Doubleline Multi Asset Growth

Tidal Trust II

Risk-Adjusted Performance

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Tidal Trust II are ranked lower than 24 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, Tidal Trust showed solid returns over the last few months and may actually be approaching a breakup point.

Doubleline Multi Asset

Risk-Adjusted Performance

Very Weak

Over the last 90 days Doubleline Multi Asset Growth has generated negative risk-adjusted returns adding no value to fund investors. In spite of fairly strong basic indicators, Doubleline Multi is not utilizing all of its potentials. The current stock price disturbance, may contribute to short-term losses for the investors.

Pair Trading with Tidal Trust and Doubleline Multi

The main advantage of trading using opposite Tidal Trust and Doubleline Multi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tidal Trust position performs unexpectedly, Doubleline Multi can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Doubleline Multi will offset losses from the drop in Doubleline Multi's long position.

The idea behind Tidal Trust II and Doubleline Multi Asset Growth pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.